Download our 2018 Annual Report
CONDENSED COMPARATIVE STATUTORY BALANCE SHEET
2018 VS. 2017 ($ IN MILLIONS)
| ASSETS | 2018 | 2017 | 2018 vs. 2017 Change |
|---|---|---|---|
| Investments and Cash | |||
| Fixed Income Securities (at amortized cost) | $278.0 | $248.7 | $29.3 |
| Equity Securities (at market) | 63.3 | 106.8 | (43.5) |
| Cash, Short Term and Other Investments | 34.7 | 22.3 | 12.4 |
| Total Cash and Investment | 376.0 | 377.8 | (1.8) |
| Receivables | |||
| Premiums Due | 153.2 | 146.3 | 6.9 |
| Reinsurance Recoverable on Paid Losses | 9.6 | 7.6 | 2.0 |
| Receivables for Securities Sold | 0.4 | 0.4 | – |
| Accrued Investment Income | 2.8 | 2.7 | 0.1 |
| Total Receivables | 166.0 | 157.0 | 9.0 |
| Other Assets | 10.8 | 6.1 | 4.7 |
| TOTAL ASSETS | $552.8 | $540.9 | $11.9 |
| LIABILITIES AND SURPLUS | |||
| Liabilities | |||
| Loss Reserves | $203.3 | $175.5 | $27.8 |
| Unearned Premium Reserves | 175.0 | 167.6 | 7.4 |
| Premium Due Reinsurers | 5.5 | 8.6 | (3.1) |
| Expenses Payable and Other Liabilities | 33.0 | 39.8 | (6.8) |
| Total Liabilities | 416.8 | 391.5 | 25.3 |
| Surplus | 136.0 | 149.4 | (13.4) |
| TOTAL LIABILITIES AND SURPLUS | $552.8 | $540.9 | $11.9 |
CONDENSED COMPARATIVE STATUTORY OPERATING RESULTS
2018 VS. 2017 ($ IN MILLIONS)
| 2018 | 2017 | 2018 vs. 2017 Change | |
|---|---|---|---|
| Premiums Written – Direct | $249.5 | $230.7 | $18.8 |
| Premiums Written – Net | $181.8 | $172.4 | $9.4 |
| Premiums Earned | $174.3 | $159.6 | $14.7 |
| Losses Incurred | 142.8 | 102.8 | 40.0 |
| Expenses Incurred | 48.9 | 53.3 | (4.4) |
| Total Losses and Expenses | 191.7 | 156.1 | 35.6 |
| Underwriting Profit/(Loss | (17.4) | 3.5 | (20.9) |
| Dividends | 0.3 | 1.9 | (1.6) |
| Underwriting Profit/(Loss) After Dividends | (17.7) | 1.6 | (19.3) |
| Net Investments Income | 11.2 | 10.7 | 0.5 |
| Pre-Tax Operating Income/(Loss) | (6.5) | 12.3 | (18.8) |
| Realized Gains & Other | 7.0 | 4.4 | 2.6 |
| Pre-Tax Income | 0.5 | 16.7 | (16.2) |
| Federal Income Taxes | (0.8) | 1.2 | (2.0) |
| Net Income | 1.3 | 15.5 | (14.2) |
| Change in Unrealized Gains/(Losses) | |||
| (Net of Tax) | (14.4) | 4.8 | (19.2) |
| Other Surplus Decreases | (0.3) | (5.6) | 5.3 |
| Change in Surplus | ($13.4) | $14.7 | ($28.1) |
| Total Surplus | $136.0 | $149.4 | ($13.4) |
| % Increase/(Decrease) in Surplus | (9.0%) | 10.9% |
A.M. Best rating
A- (Excellent) with a Stable Outlook by A.M. Best Rating Services, Inc., the insurance credit rating source. The effective date of this rating is April 3, 2019.
